The Prime Minister revealed that a conclusion on negotiations to reduce refining costs is near. He said the approach should not be overly coercive and reiterated that prices must follow market mechanisms. Continuous subsidies are not sustainable, but the government is seeking alternative measures. He confirmed there will be enough oil during Songkran and explained the reason for silence on the masked individual involved in oil stockpiling was to avoid information leaks.
On 4 April 2026 at 15:20 at Lotus Bangkapi, Mr. Anutin Charnvirakul, Prime Minister and Minister of Interior, spoke about the committee studying the appropriateness of setting fuel oil costs (COTR) not yet concluding on reducing refining fees. He said they are close to a conclusion and are negotiating with refineries, reviewing various figures together. All parties have reportedly cooperated well, and a conclusion is hoped for within next week.
When asked if a price reduction is likely, Anutin gestured toward the Ministry of Commerce Permanent Secretary before noting the PTT board chairman was present and currently reviewing figures. Negotiations to reduce prices are underway, but refineries must remain viable; excessive pressure is not desirable. If refining becomes unprofitable and refineries stop operations, the problem will worsen. He is confident there will be sufficient oil supply, especially during Songkran.
Asked about complaints received during his field visit regarding high oil prices, Anutin said he explained to people that while many complain about expensive oil, the oil fund still subsidizes about 17 baht per liter. However, continuous subsidies are unsustainable, so the government must find other ways to lessen the public’s burden. Negotiating refining fees is one approach. He asked for public cooperation, noting Thailand does not set oil prices and has no domestic oil resources, relying 100% on imports. Therefore, during crises, oil consumption must be more economical.
“This is not about shifting the burden onto the public. For example, if people used to drive individual cars, they may need to carpool more. Households with electric vehicles might use them more. When refueling, people should buy only what they need, without hoarding gallons, as stockpiling causes shortages in the system.”
When asked if the policy speech to parliament will address the energy crisis, Anutin confirmed it will, focusing on energy structure adjustments amid global crises and regional conflicts affecting oil exports, as well as preparedness for potential oil shortages and price volatility.
Asked about progress on the case of 57 million liters of missing oil, Anutin said all agencies are expanding investigations and ready to prosecute those profiteering illegally and those hoarding oil, which is against the law. The investigation focuses on controlling the volume of oil leaving refineries to ensure every liter reaches the public and service stations, not hoarded for speculation, which is prohibited. He praised officials for thorough investigations.
“I remained silent because I wanted to understand the wrongdoing without leaking information. We even tracked which ships were idling at sea longer than necessary between oil loading and unloading points, indicating deliberate delay. Oil prices rose daily last week, so this was a tactic to stall. In less than a week, we traced these actors' routes. Going forward, controls will prevent oil leaks—whether idling offshore or being illicitly exported through natural channels.”
When asked if the special cabinet meeting on 6 April will discuss oil issues, Anutin said some topics will be covered, such as establishing a new oil control center to replace the outgoing one with the old cabinet. Focus will be on price controls and finding other measures to aid the public. Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas has proposed a rough model. The government will do everything possible to reduce the public’s cost of living. However, as oil prices depend on global markets, continuous subsidies from the oil fund are not feasible, so alternative support measures are necessary.